Once you have found a buyer, all that is required to close the deal is to avoid these five traps.
Finding a buyer is only the first step in the home-selling process. Be careful in the coming weeks, as if you make any of these common selling mistakes, your deal might not close.
First Mistake: Ignore contingencies
Do what your contract calls for. You shouldn’t make the sale conditional on repairs. Buyers won’t notice if you do cheap fixes.
Second Mistake: Don’t bother fixing things that break
A seller doesn’t want buyers to notice that the home isn’t in the same state it was when they offered. Sellers must repair any damage to a house that is about to be bought. The furnace should be repaired by a qualified professional. If you fail to maintain your home, buyers will lose faith in your integrity and home’s condition and may decide to sell.
Mistake #3: Get lax about deadlines
Treat deadlines as sacrosanct. You have three days to reject or accept the home inspection. Make your decision within three working days. You can move out of your home a few days before closing if you are selling.
#4: Don’t negotiate with
After you have agreed on a price, you can calculate the amount you will receive at the close of business. Inspections may uncover problems that need to be addressed. An appraisal might be given at a lower price than the buyer offered. Be prepared to negotiate with the buyers over these bottom-line-influencing issues.
Fault #5: Hiding liens from buyers
Did you forget to mention Uncle Sam placed a tax lien against your home? Or that you owe six monthly homeowners association fees. Any liens on your house will be revealed by the title search. You must either pay the lien off or get permission from the borrower to do so in order to sell your house. It’s great if you can do this with the proceeds from the sale. If you can’t, the sale won’t close.
